Savings are one of the most popular investment options for Brazilians. There is no denying how much they have been a part of the financial lives of many. In fact, a study conducted by the Brazilian Association of Financial Entities and Capital Markets (APIMA) showed that 23% of the population preferred to use this method.
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This is seen by many as a simple and safe way to invest money, with low risks and easy access to resources, but it is also a subject of doubt. Many people wonder how much savings they make, like R$300,000 in returns, for example. To find out more, read on.
Savings is the best known investment in Brazil
Being a popular investment in the country, its annual rate of return is 6.17%, however, this return is affected by silica ratewhich is now 13.75% annually.
When the Selic rate is less than or equal to 8.5%, the rule states that the savings rate will be 70% of the rate with the reference rate, which is 0.16% per annum. On the other hand, when Selic exceeds the 8.5% level, the return on savings becomes 0.5% per month, plus TR.
Taking the example Brazilians search on Google, R$300,000, taking into account the average rate last year, which was 0.65%, the investor would have access to R$1,964.83 on the first of the month. Calculations by Top Gain Research analyst Sidney Lima indicate that a person will earn R$324,446.04 at the end of the first year, if they make no withdrawals. The amount of R$24,446.04 refers to the interest earned at that time.
When using the February 2022 rate of 0.58% as a basis, the value will be different.
After a year, the investor will receive R$321,689.40.
Other methods show higher returns
a profitability Savings has been a target of criticism in recent years, since base interest rates in the economy have been at historically low levels. After running simulations, Sidney Lima points out that savings have lower returns than other alternatives, such as smart treasury, CDB, LCA and bonds.
For him, the fact that Brazilians see this kind of investment As unique is a reflection of a lack of financial education. The analyst also states that it is not beneficial for financial institutions to disclose other forms of investment. See: “Through savings, they have been able to collect their money at a much lower cost to be able to use it with the granting of credit, which pays a lot to the banks,” he declared.
